The electric underfloor heating market will see growth returning next year after a 'lacklustre' 2011, according to a new report by MTW Research.
The research for the new report finds that while the market recovered somewhat in 2010, sales in 2011 have since suffered as a result of a decline in domestic refurbishment projects, declining consumer confidence and a host of other negative issues. However, the report identifies a number of key strengths and opportunities in the UK electric underfloor heating market in late 2011, with future prospects more positive for the market in the medium term.
MTW forecasts modest growth in 2012, followed by above inflationary growth from the first half of 2013 onwards, with the market likely to rise by around 4% on annualised terms.
By 2015, sales of electric underfloor heating are expected to experience buoyant growth with the report also forecasting healthy shares for foil mats, carbon mats, single cable systems, thermostats and cable mat underfloor heating.
MTW Research's 100-page report suggests that price competition is likely to remain a key dampener of growth in the low and mid-market sectors in the near term. Nevertheless, MTW also identifies a large number of positive factors and opportunities for growth of underfloor heating sales in the medium to longer term, including rising consumer awareness of the many benefits of underfloor heating.
The increasing ability for manufacturers to add value to their product portfolio should also offer good opportunities for both volume and value growth, underpinning the market in the medium term.
Another key driver identified in the market at present is electric underfloor heating increasingly being used as primary heating, as homes become more thermally efficient thanks to changing building regulations.
In addition, MTW points to ongoing product development providing greater flexibility in terms of a wider range of floor coverings, that may now be specified in conjunction with underfloor heating, which is also enhancing market opportunities.
The comprehensive report is available now from MTW’s website for £565, or by calling 08456 524324.
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